Many pitfalls of wealth and fortune exist. Notwithstanding everyone desires to be wealthy. This is a legitimate desire considering most people are living in extreme lack and poverty. Many would do anything just to break free from the hold of poverty. Thus the acquisition of wealth and fortune is a major driving force.
While it is desirable to amass wealth it’s important to come to terms with the pitfalls of wealth. Those lacking wealth tend to envy those who have it. They don’t understand what the wealthy go through to make their fortunes. In this post I attempt to provide a view from the other side. Let’s take a look beyond the fancy cars, nice houses, private jets and insanely huge bank balances of the wealthy.
So here are some common pitfalls of wealth in no particular order:
Pitfall of wealth Number 1 – Money won’t make you happy
One of the first pitfalls of wealth is that having loads of money won’t translate to happiness. I know you’re thinking that when you have plenty you will be happy. Sadly this is not the case. Having loads of money at the beginning might be a huge ego boost. But after a while it becomes a burden because it comes with so much responsibility.
Stories abound of wealthy people battling depression and sadness Their wealth, instead of being a blessing has become an albatross. The rate at which millionaire entertainers commit suicide nowadays should be enough hint that all is not well. You might not believe it but the rich also cry.
Friends & family see you in a different light
One of the pitfalls of wealth that is quite significant is the reaction of friends and family to your having money. The minute they discover you’re rich their expectations and attitudes toward you changes dramatically. They begin to make unrealistic demands and throwing tantrums when you do not pander to their whims. They come to see you with all sorts of schemes, scams and requests for assistance.
Failure to accede to them means you have become uncaring and wicked. Being able to balance the genuine from the insincere is no easy task!
Too much power over people
A third pitfall of wealth concerns the amount of power and control you will have over people. This increases tremendously because you have uncommon results. Respect and regard will come from many quarters, near and far. You instantly assume the status of a celebrity with more enemies than friends.
In some cases people even stop giving their opinions around you preferring to take everything you say as gospel. It is sometimes akin to playing God as everyone both old and young defer to you.
Your private life becomes public
It’s quite unnerving to go from being unnoticed to becoming the cynosure of all eyes. You now need to fight hard to keep your private life out of the public domain. People want to know what makes you tick, the good and especially the bad. They want to celebrate your failures.
You have been able to do what they couldn’t and they are resentful, wishing they could swap places with you. No area of your life is sacred. . You have become the stuff that sells gossip magazines. No rich person is immune to this pitfall of wealth.
An uncertain future awaits you
Now that you have acquired loads of wealth and fortune, what do you do next? What is the next worthy goal you’re setting sights on achieving? Because amassing fortune has been your driver you could become uncertain about the future once you attain your financial goals.
It is imperative to have a plan on what you are going to do after you make it financially. Otherwise confusion and uncertainty begins to set in leading one to embark on reckless spending.
It’s lonely at the top
Another pitfall of wealth is that being wealthy can be extremely lonely. You have made sacrifices to get to the top financially. However many people think you are cold, unfeeling and distant. The rich are usually described as ruthless, selfish, greedy, uncaring, mean, arrogant, egotistical, insensitive and unfeeling.
You could start building walls around yourself thus alienating yourself from the bigger society . This could be due to the fact that it seems like everyone wants a piece of you. Being wealthy can be overwhelming.
Money wants to control your life
Money is also fighting to take control of your life. Money’s place is under your feet. But it never wants to stay there. Instead it wants to control you by forcing you to make every decision based on monetary parameters. Basing every decision by putting money first will cause you to lose the rewarding and fruitful relationships in your life.
No matter your financial status you will need good people. Do not believe that all of them have to be rich in order to associate with you.
Many rich people are plagued by feelings of guilty at the top of the financial ladder. For starters they may question why they have so much while others have so little? Or they could be feeling guilty when they just can’t help everyone.
Being wealthy can easily bring feelings of unworthiness that can affect your emotional well being.
The thrill of wealth starts to decline
Finally once you acquire things you used to dream about you’ll soon discover that your interest in them declines. The thrill is in buying that car or private jet. But after a while it doesn’t matter as much as before because you now have it.
You start to aspire for things on a higher level. The cycle continues and your excitement on your current possessions drops. Fulfillment is clearly not in having lots of possessions otherwise the wealthiest people would be the happiest.
Final word on pitfalls of wealth
In conclusion there are pitfalls to almost everything in life. And wealth is no exception. There is nothing wrong in amassing great wealth and fortune. However it is key that you remain grounded with your feet firmly on the ground.
But then what do I know? I’m not rich yet! And I desire to be! Maggie Zhang’s article, 12 surprising downsides of getting wealthy also provides excellent insights on the other side of having money.
Don’t let the size of your bank balance move you. Seek for quality people to associate with and don’t let wealth go to your head. Put money in its place and you can have a rewarding and fulfilling life in all ramifications.